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Gofore: Employee count indicates continuing growth - SEB

With April-May sales data already out (broadly in line), there should not be any major sales deviations in the Q2 report. However, we reduce our margin expectations following higher-than-expected net recruitment. The positive twist is that we raise our H2 sales estimate slightly. The case remains unchanged: we continue to see clearly slower growth, but the market should continue to grow with Gofore continuing to win market share.

With April-May sales data already out (broadly in line), there should not be any major sales deviations in the Q2 report. However, we reduce our margin expectations following higher-than-expected net recruitment. The positive twist is that we raise our H2 sales estimate slightly. The case remains unchanged: we continue to see clearly slower growth, but the market should continue to grow with Gofore continuing to win market share.
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